Total: FY dividend +5%, Fosmax stake sold, India partnership
(CercleFinance.com) - Total's Board meeting of 5 February 2020 decided to propose to its AGM, to be held on 29 May, the payment of a final dividend 0.
68 euro per share for FY 2019, up 6% compared to the final 2018 dividend, bringing the annual dividend to FY 2019 to 2.68 euros per share, against 2.56 euros in 2018.
"This decision reflects the implementation of the policy announced on September 24, 2019, to accelerate dividend growth in the coming years, with a guidance of increasing the dividend by 5 to 6% per year."
Total has also announced the sale of its 27.5% stake in Fosmax LNG, operator of the Fos Cavaou LNG terminal, to Elengy, a joint-shareholder of Fosmax LNG with a 72.5% stake. Proceeds from the sale of these non-strategic infrastructure assets will reach around 260 million dollars, and will contribute to achieving the target of selling five billion dollars in 2019-2020, Total said.
The oil group adds that it is expanding its partnership with the Adani Group, the largest Indian private conglomerate operating in energy and infrastructure. This partnership will contribute to the growth of solar electricity production in India.
Total and Adani Green Energy Limited (AGEL) will create a joint venture in which AGEL will bring its solar assets into operation.
The transaction represents approximately 500 million dollars and is in line with the Total's target profitability of over 10% for renewable projects.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
68 euro per share for FY 2019, up 6% compared to the final 2018 dividend, bringing the annual dividend to FY 2019 to 2.68 euros per share, against 2.56 euros in 2018.
"This decision reflects the implementation of the policy announced on September 24, 2019, to accelerate dividend growth in the coming years, with a guidance of increasing the dividend by 5 to 6% per year."
Total has also announced the sale of its 27.5% stake in Fosmax LNG, operator of the Fos Cavaou LNG terminal, to Elengy, a joint-shareholder of Fosmax LNG with a 72.5% stake. Proceeds from the sale of these non-strategic infrastructure assets will reach around 260 million dollars, and will contribute to achieving the target of selling five billion dollars in 2019-2020, Total said.
The oil group adds that it is expanding its partnership with the Adani Group, the largest Indian private conglomerate operating in energy and infrastructure. This partnership will contribute to the growth of solar electricity production in India.
Total and Adani Green Energy Limited (AGEL) will create a joint venture in which AGEL will bring its solar assets into operation.
The transaction represents approximately 500 million dollars and is in line with the Total's target profitability of over 10% for renewable projects.
Copyright (c) 2020 CercleFinance.com. All rights reserved.